Competitor Take-Two buys game developer Zynga

Status: 10.01.2022 5:09 p.m.

The maker of the bestselling video game “Grand Theft Auto”, Take-Two, is taking over the mobile game provider Zynga for almost $ 13 billion. This corresponds to a multiple of the current share value.

Game developer Zynga is far from the height of its success with “Farmville” – yet it is worth almost 13 billion dollars to competitor Take-Two. The group behind big titles like “Grand Theft Auto” and “Civilization” is taking over Zynga and is prepared to pay a premium of almost two thirds on the latest share price.

Zynga stocks are jumping up

The outstanding Zynga shares would be purchased for $ 9.86 per paper, said Take-Two. This corresponds to an increase of 64 percent compared to the last closing price. Before the trading day, the shares of “Farmville” provider Zynga on Wall Street rose by around 50 percent, while Take-Two went down almost nine percent.

Switch from computer to smartphone

The background to the takeover is that Take-Two wants to gain a foothold on smartphones. Zynga has corresponding games on offer, because when many Facebook users switched from computer browsers to smartphones, the company had to adapt. However, Zynga did not seem to get beyond the genre of casual leisure games; The San Francisco-based company closed the third quarter of last year with a loss of $ 42 million on sales of $ 705 million.

Reference-www.tagesschau.de

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